Rise in disposable income of middle-class families driving demand for air coolers
The Indian Air Coolers Market is expected to grow at a CAGR of 9.04% during 2023-2028 to US$1,625.52 million by 2028F from a value of US$339.64 million in 2022.
The market is driven by factors such as the rise in the disposable income of middle-class families and the ongoing process of rural electrification across the country, said a report by the ResearchAndMarkets.
Also, the emergence of online sales channels and the continuous evolution in technology are expected to create lucrative growth opportunities in the forecast period, the “India Air Coolers Market” report said on 15 Sept 2022.
The demand for air coolers is majorly dependent on the climate witnessed in the country. The climate in most of the country is hot, and the seasons are long, which begin in April and end in October, and the temperature often reaches 45C during summer.
The Indian Air Coolers Market is segmented into organized vs. unorganized sectors, regional distribution, and competitive landscape. The unorganized segment dominated the market with a share 69.68% in 2022.
The unorganized sector is expected to maintain its dominance over the forecast period due to the continuous entry of new market players and the availability of air coolers at comparatively lesser prices. Unorganized distribution channels can be seen even at remote locations, making them highly accessible to consumers, said the report.
Companies in the market are:
Symphony Limited
Bajaj Electricals Limited
Usha International Limited
Ken Lifestyles Private Limited
Orient Electric Limited
Voltas Limited
Ram Coolers
Groupe SEB India Private Limited (Maharaja Whiteline)
Blue Star Limited
Havells India Limited. fiinews.com
